The list of targets includes companies in China, a US adversary that has openly helped President Vladimir Putin, as well as entities in countries that work with the US such as India, Türkiye, and Switzerland. That risks new friction with the very governments the US is hoping it can count on to further isolate Russia.
The US and its allies have piled thousands of sanctions on Russia since the invasion in February of 2022, yet the country's GDP is projected to grow 3.5 per cent – 4 per cent in 2024. The new actions are intended in part as a warning to countries outside the US and Russia about the risk of doing business with the Kremlin, a senior US official told reporters on condition of anonymity.
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